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Portfolio Management
T. Rowe Price has established an Investment Advisory Committee with respect to the fund. The committee chair is ultimately responsible for the day-to-day management of the fund’s portfolio and works with the committee in developing and executing the fund’s investment program. The members of the committee are as follows: Dominic Rizzo, chair, Kennard W. Allen, Stephanie Beebe, Shawn T. Driscoll, Gregory Dunham, David J. Eiswert, Sam Johnson, Lu (Jacqueline) Liu, Ross MacMillan, Jennifer O’Hara Martin, Anna Nussbaum, Frank Shi, Joshua K. Spencer, James Stillwagon, Taymour R. Tamaddon, Anthony Bruce Wang, and Ari Weisband. The following information provides the year that the chair first joined the Firm and the chair’s specific business experience during the past five years (although the chair may have had portfolio management responsibilities for a longer period). Mr. Rizzo has been chair of the committee since the fund’s inception in [2024].
Hello, @catch22.@CrashWhat does this mean?But there's a wall around wifey's Trad IRA.
Nice story, very little what to do in bondland.Interesting Barron’s story about the Southern California bond ecosystem.
https://www.msn.com/en-us/money/markets/you-ll-never-trade-bonds-in-this-town-again/ar-BB1mzDel
Note: dents can still be 'worked' out, just adjust for inflation.Remember when dents could be hammered out and sanded smooth again? Check out the solidity of a 1958 DeSoto vs. a compact 2023 Suzuki sedan.
From NYTimes:The CPI index this morning (May 15) was down a bit, which is good; but Bloomberg cited that the very large increases in auto insurance (which is a portion of the index) had an affect on the CPI not being lower. So, as has been discussed here; auto insurance rates are being noticed by others, too.
https://www.nytimes.com/2024/05/15/business/car-insurance-cost-inflation.htmltwo years ago ... [t]he Covid pandemic disrupted supply chains... making spare parts hard to get; out-of-practice drivers emerging from lockdowns caused more severe wrecks; and technological advancements like motion sensors made even the simplest parts, like a fender or a rim, expensive to replace.
... Car insurers are still raising prices steeply: The price of motor vehicle insurance rose more than 22 percent in the year through April. ...
That has made car insurance a prominent factor preventing overall inflation from cooling more quickly, ...
A key reason car insurance costs are rising so fast right now has to do with how the industry is regulated. ... [A combination of insurers not having been able to set rates intelligently because of skewed historical driving patterns during the pandemic and because of regulatory backlogs when all the insurers finally filed for increases all at once.]
About 8.9% of credit card balances fell into delinquency over the last year, according to the Federal Reserve Bank of New York — a sign that a growing number of borrowers are feeling the strain of rising prices and high interest rates.
"Everything is more expensive. Debt is more expensive. Rent is more expensive. Food, gas, everything," says Charlie Wise, senior vice president at TransUnion, the credit reporting firm. "Even with relatively healthy wage gains we've seen over last several years, many consumers just aren't keeping up with the price pressures."
Maxed-out borrowers are a big concern-
The New York Fed's report shows the pain is not evenly spread. While many households are on solid financial footing, almost 1 in 5 cardholders is "maxed out," using at least 90% of their credit card limit. That's worrisome, the report says, because maxed-out borrowers are much more likely to fall behind on their bills.
People under 30 and those who live in low-income neighborhoods were particularly likely to be maxed out, according to the report. Among Generation Z borrowers, about 1 in 6 was close to exhausting their credit, compared with 4.8% of baby boomers.
https://www.washingtonpost.com/news/wonk/wp/2013/03/08/the-author-of-the-spectacularly-wrong-dow-36000-has-some-new-thoughts-on-the-stock-market/The Glassman [Dow 36,000] thesis was that investors had somehow, for all of history, misunderstood how truly risk-free investing in stocks was, and that they would within a few years come to this realization.
...
No one could have, in 1999, perfectly anticipated that there would be a crash in tech stocks, the Sept. 11, 2001 terrorist attacks, two major wars and a global financial crisis over the subsequent decade.
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